OMFS residency income

[Schindlerelactobaciloma]

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Quick question for those familiar with residency finances:
Is it possible—or common—for residents to average around $100K per year during training? Specifically for the 6-year OMFS track, do the two years spent in medical school typically allow more time for moonlighting, potentially leading to a higher overall income?

 

[Anonamoose]

Google PGY1-6 salaries at programs, most are public information. Some allow moonlighting but it is not guaranteed and mostly kept closer to the chest.

 

[deleted783936]

lol. No. completely unrealistic. Most of 6 year residencies in larger cities actually do not allow moonlighting and some don't even pay you a salary during medical school. Those in less desirable locations do allow it but offices aren't open after your medical school responsibilities end so its hard to get hours.

a couple of 6 year programs pay you throughout.

a lot of 6 year programs are unique in their rules.

I made between 10-25k a year moonlighting during the medical school years.

This is why most 6 year guys never work in academics anymore and are going corporate.

 

[omfsing]

One thing you’re going to see more of is private equity signing residents on for private practice positions upon graduation. In signing such a contract, these company’s give you a stipend during residency and you can make around 6 figures a year. I know multiple residents through the country who are in these contracts and some moonlight as well, doing very well,

Good luck

 

[0bliqueridge]

One thing you’re going to see more of is private equity signing residents on for private practice positions upon graduation. In signing such a contract, these company’s give you a stipend during residency and you can make around 6 figures a year. I know multiple residents through the country who are in these contracts and some moonlight as well, doing very well,

Good luck

Do you have more info about this? Do they sign chiefs or junior residents too? Thx

 

[omfsing]

Do you have more info about this? Do they sign chiefs or junior residents too? Thx

Junior residents also.

 

[MarcusA121]

LOL no you’re not going to see more people sign with private equity. People that spend 4-6 years slaving away at the hospital are not looking to slave away for private equity for the rest of their career.

 

[dratc]

LOL no you’re not going to see more people sign with private equity. People that spend 4-6 years slaving away at the hospital are not looking to slave away for private equity for the rest of their career.

That’s how me and my co resident felt and are both entering true private owned practice with the intent to become owners. I’m a little discouraged to see more and more residents entering into private equity. The interest in the positions is pretty high amongst those I know in training.

Yes many, if not most now, will offer a stipend during residency. Some during your chief year, other during your last 2 years. There may be other options as well now. This isn’t free money though. You will be contractually bound for a period of time. That may or may not be a problem for you. Just make sure your decision reflect your career goals.

For what it’s worth, I had 2 private offices (single docs, clear pathway to ownership/buy outs) also offer payment while in residency. So if a stipend is what you want, private equity isn’t the only option.